Are conventional loans assumable?


If you have a fixed rate conventional loan, it is not assumable. However, a conventional adjustable rate mortgage (ARM) might be assumable after the rate has started adjusting.

What credit score do you need for a conventional home loan?


A credit score is just one piece of your overall financial picture, so make sure you talk with a loan officer about your qualifying factors. That said, a conventional loan typically requires a credit score over 620, and all borrowers should have a credit score.

When is the HECM for purchase due?


["Although there is no specific date in which the HECM for Purchase loan is due, a few events can cause the loan to become due and payable. The following are such events that would cause loan maturity:","The last remaining borrower passes away or leaves the home to live elsewhere for more than 12 consecutive months.","The home is sold.","You do not meet the borrower obligations of maintaining payment of property taxes, homeowner\u2019s insurance, homeowner\u2019s association fees, and basic home repairs or you fail to comply with other loan terms."]